Japan's Trade Ministry Seeks to Double Budget for Energy Savings

Japan’s Ministry of Economy, Trade and Industry is seeking to nearly double the budget for energy-saving measures to be adopted in places such as factories and homes as the country eyes improvements in energy efficiency.

The ministry is requesting 242.9 billion yen ($2 billion) for energy savings for the year starting in April, up from 127.7 billion yen for the previous fiscal year, according to a document released Friday. Part of the requested budget will be used to help factories streamline manufacturing processes and support offices to install equipment with improved efficiency.

The ministry also wants to set aside at least 135.5 billion yen for the development of clean energy. The allocations include 10 billion yen to support surveys for geothermal power generation and 4 billion yen for a floating offshore wind project in Fukushima, according to the document.

As for hydrogen development, the ministry plans to spend 37.1 billion yen to promote the use of fuel cells including residential fuel cells, compared with 11.9 billion yen for the previous year.

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